Day: November 21, 2023

Entries of £700 in the discount received account had NOT been entered in the PLCA.

During the year a machine was sold for £1,000. There was only one entry made and it was a credit in the bank account.

What is the balance on the suspense account?

Select ONE answer:

1. £1,700 credit
2. £1,700 debit
3. £2,700 credit
4. £2,700 debit

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 2

1. Not correct
2. Correct – Dr £700 + Dr £1,000
3. Not correct
4. Not correct

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